And yes, the Buyer Agency Agreement requirement is troubling. 

Something to note, if you pay cash for the house and later require access to those funds, utilizing a HELOC (Home Equity Line of Credit) allows you to retrieve that money.Secondly, the right approach for investing depends on several factors.

Remain goal-oriented, adjust to shifting market conditions, and ask for assistance as required.

I've discovered that explaining our requirements to potential tenants even before they view the property has been extremely beneficial.

There are also some other requirements, here is a good general guide:https://selling-guide.fanniemae.com/Eligibility/Mortgage-Eli...Can I ask though, what rate did you end up settling for to purchase?

Why do off market properties require a good amount of renovation?

What the city told you was most likely true, but you can always ask for a variance if you think that some of the requirements are already in place.But most likely the required new inspections are necessary because it's a new dwelling and the old utilities must be up to new codes.....Just my guess.....

They typically require 20-25% down so it sounds like you're good there. 

@Hans Baum Seller can potentially lose that portion entirely if new buyer goes into foreclosure or short sale, so most who will even consider an assumption usually require a buyer who can go through proper VA assumption process and substitute their entitlement.

A bank can't extort a tacked-on higher interest rate if a borrower won't agree to new terms...terms that would now require unnecessary documentation and hassle.Here's excerpts from their letter to commercial customers I got last week, on company letterhead.